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MEDIA QUAKE
Five days after new media laws made it through the Senate, the first big changes loom:
James Packer’s Publishing and Broadcasting Ltd will announce the spin-off of the Nine Network and ACP Magazines as early as today, as it looks to create a new $9 billion media company.
PBL placed its shares in a trading halt today “pending the release of an announcement by the company”.
A popular theory, mentioned in the linked piece, is that PBL will subsequently pursue ownership of the Fairfax papers. Which would be interesting ...
If PBL did buy Fairfax I could just see the ghost of Kerry Packer kicking open the front doors and running through the place with a flame thrower.
Posted by Hank Reardon on 2006 10 17 at 02:28 AM • permalinkIn real estate terms, Fairfax would be:
DECEASED ESTATE
This once charming property has been neglected over the years and is need of major renovations to bring it back to it’s former glory. An excellent opportunity exists for a purchaser of rare courage to capitalise upon the world class postion this company occupies.Buyers please note that an EPA report on toxin and pollution levels associated with this site is yet to be completed.
Enquiries in confidence to the ASX.
Posted by Infidel Tiger on 2006 10 17 at 02:31 AM • permalinkPrice movements for its shares comparing Oct 16, 2006 with Oct 17, 2005:
Faifax +5.6%, News Ltd +37.4%, PBL +21.5% (source Tradingroom.com). Given the growth in the advertising market already and Fairfax’s failure to capture any real benefit a move by PBL could only be seen as sentimental. There would be a real motive for News Ltd to buy (elimination of a competitor albeit a weak one) but no rational reason for PBL. Having said that, John Alexander of PBL used to work for Fairfax and had and unhappy departure and may want to make them eat crow. The new Packer on the block has not however shown marked interest to date.I agree - Fairfax is a dog with fleas.
Speaking of job opportunities though Tim - is it true you will be co-hosting the new and improved Media Watch?
Posted by attilathepun on 2006 10 17 at 03:15 AM • permalinkNic:
Who’s the luck devil that gets to bone Margo and Adele?In the Eddie McGuire sense: ME ME ME ME ME ME - PLEEEESE!
In the other sense: <WHOOSH!> runs a million miles, takes carbolic bath and purgative.
Posted by Stop Continental Drift! on 2006 10 17 at 05:04 AM • permalinkPBL will subsequently pursue ownership of the Fairfax papers.
Cripes! Talk about your fixer upper.
But seriously, can’t see why Packer would buy Fairfax - there doesn’t seem much sense in pouring old wine into new bottles and maintaining a conglomerate profile similar to present-day PBL. Media is not a hedge for gaming. Packer should pick one or the other, and focus on that.
Posted by James Waterton on 2006 10 17 at 07:26 AM • permalink#2 so who’s going to be the poor sod who has to bone Traceeeeeeeeeeeee Hutchinson?
Obviously the meaning of ‘to bone’ has changed somewhat in recent years. The above statement brings forth a very unsettling mental image.
Posted by walterplinge on 2006 10 17 at 08:22 AM • permalinkBigmouth boofhead and blithering idiot Eddie McGuire created this unusual interpretation of the phrase “to bone”; thise usage may be common in AFL/TV bigshot circles, but I’ve never heard it elsewhere.
AAP – Sydney Monday January 1 2007
The offices of The Age and Sydney Morning Herald were evacuated this morning in dramatic scenes following the controversial PBL takeover of the Fairfax media empire.
The drama unfolded after staff at the newspapers held what they called a lightning “Vietcong-style strike” over threats that they would be required to report news in a professional manner.
Newly appointed Fairfax CEO, Andrea Harris has denied that her response was in any way excessive.
“I make no apologies - Agent Orange and flame throwers would seem to me to be the logical response to any Vietcong-style dispute. I am expecting that by using these means, these socialist slap-heads will fuck right off.”
Ms Harris said that The Age and Sydney Morning Herald production would not be affected thanks to a contingent of fresh journalistic talent, including new and highly paid senior staff richard mcenroe, the real jeffs, Rebecca h, paco, PW, Dave S, crash, blogstrop, el cid and wronwright.
When called for comment, newly appointed Honolulu correspondent, token lefty and Lint Diaries writer, Margos Maid did not appear to be in the office.
AAPPosted by Margos Maid on 2006 10 17 at 07:08 PM • permalink? sorry, if I did something incorrect margos maid.
Not at all 1.618!
You are a valued contributor. Good luck with the BBQ.
Posted by Margos Maid on 2006 10 17 at 08:45 PM • permalinkI often duck over to The Aged for a squiz at the moonbattery on their blogs. Every now and then the The Loyal and Earnest Gatekeepers of The Left must be sipping their latte and the occasional gem slips through. From blogger Barb Dwyer (check that name!).
“OOps! It’s being reported ‘elsewhere’ that James Packer is arming his warchest with the necessary bucks to swoop on Fairfax. Yikes! The Huns are at the Gates! Prepare the boiling oil. Load the catapult.
Oh yes folks, it’s time to be afraid. Very afraid.
First the proposal to put some balance into the ABC and now the King Of The Philistines to have a go at Fairfax… all on the same day. I mean, how much can a Koala Bear, bear… Mildred, pass the smelling salts.”
I wonder if Barb Dwyer knows just how close to the mark that is. The Left’s two security blankets blown up in single day. Mark Scott say, “we are not in the business of belief confirmation.” How perfect. That describes EXACTLY the readers of The Age and rusted on ABC devotees. Belief confirmation. Go Mark, we’re with you.
#25 Margos One of your best! How about a follow-up report?
Posted by Stop Continental Drift! on 2006 10 17 at 09:54 PM • permalinkAlan Kohler seems to believe a Fairfax takeover is not so far-fetched.
Posted by Margos Maid on 2006 10 17 at 09:56 PM • permalinkAAP
AAP – Sydney Friday January 5 2007
A rag-tag group of the sacked former journalists from The Age and Sydney Morning Herald has met in Canberra following their violent ejection from the Fairfax offices.
Age editor Andrew Jaspan commenced the meeting by expressing his disappointment at the turn of events.
“I was, I have to say, shocked by Fairfax CEO, Andrea Harris calling us socialist slap-heads, which I just thought was coarse and very ill-thought through,” said Mr Jaspan. “I have never slapped my head in my life. I think using flame-throwers demeans the woman and is one of the reasons why people are slightly sceptical of her motives and everything else.”
Singed fairness expert, Adele Horin continued the meeting by saying that her sacking, and in particular the use of Agent Orange, was inequitable.
“If people really wanted to know who the best journalists are, they ought to ask the students,” she said, to a round of applause.
Speaking in his best posh accent, Mr Mike Carlton said that any suggestion of bias at Fairfax was unfounded, and that anyone who disbelieved him that conservative people were being ridiculous should just listen to his media friends from the ABC at his next north shore dinner party. He said that attendees would also get to see his hilarious impersonation of East Timor and Solomon Islands liberator, Alexander Downer.
Long time journalist and political expert, Mr Alan Ramsey concluded the meeting by saying that the current situation reminded him of a 8000 word speech he heard by former Whitlam Minister Clive Cameron, before reading it to his hushed but increasingly fidgety audience.
Michael Leunig offered his apologies that he was unable to attend the meeting, as he was busy working on Mr Curly Visits Auschwitz 2007 Calendar - to raise funds to be shared between himself and the Islamic Thinkers Society.
AAP
Posted by Margos Maid on 2006 10 17 at 11:01 PM • permalinkMargos! That AAP report will have to go before Media Watch. Obviously the bit that read:
Mr Alan Ramsey concluded the meeting by saying that the current situation reminded him of a 8000 word speech he heard by former Whitlam Minister Clive Cameron, before reading it to his hushed but increasingly fidgety audience.
Should have read:
Mr Alan Ramsey concluded the meeting by saying that the current situation reminded him of a 8000 word speech he heard by former Whitlam Minister Clive Cameron, and which he had included word-for-word in his last 8010 word article in the SMH.
Media Watch will want to praise Alan Ramsay as a fine journalist who always cites his sources, especially when they copriise 99% of his work.
Posted by Stop Continental Drift! on 2006 10 18 at 05:07 AM • permalink
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I understand that Mr Tim Blair - a fine journalist and a gentleman if there ever was one - has some mates over at PBL, in which case, he may be able to find some positions for his most loyal commenters over at Fairfax…
If 1.618 takes over from Alan Ramsey or A-dill, it will bring some much needed clarity to the op-ed pages.